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At Cannes, Saudi Arabia Launches Two Film Funds to Jumpstart Local Industry
- May 17,2023
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- SUSTG Team
Saudi Arabia’s newly-minted Cultural Development Fund has officially unveiled two separate film sector funds at the Cannes Film Festival in France, Variety reports.
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Contract Signed for $1.5 Billion for NEOM High-Speed Railway to Connect Port Development of Oxagon and The Line
- May 15,2023
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- SUSTG Team
Milan, Italy-based Webuild and its joint-venture partner Shibh Al Jazira Contracting Company (SAJCO) have signed a contract worth circa $1.5 billion to design and build 57 kilometers (35.4 miles) of a high-speed railway in NEOM, along the north Red Sea coast of Saudi Arabia which will connect Oxagon and The Line, according to reports.
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Neom’s progress and opening date, Syria comes in from the cold, the Rua Al-Madinah giga-project and much more
- May 12,2023
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- SUSTG Team
Episode 86! The hosts fly solo today with lots to discuss from a busy week in Saudi Arabia. Richard’s One Big Thing is the recent developments on Saudi-Syria relations. Syria has come in from the cold in recent days as the Arab League and Saudi Arabia in particular prioritize engagement with Assad regime to solve […]
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Saudi Arabia’s Rua Al-Madinah Giga-Project Signs Major Deal with Accor for 1,000 More Keys
- May 11,2023
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- SUSTG Team
Saudi Arabia’s in-development Rua Al-Madinah giga-project signed an agreement with France-based Accor group for three hotels, adding 1,056 keys to the area spread across three brands.
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Saudi Arabia and Syria to Resume Diplomatic Missions After Decade-Long Freeze, Officials Confirm
- May 10,2023
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- SUSTG Team
Saudi Arabia is continuing apace with major shifts in its foreign policy, formally resuming diplomatic ties with Syria after a decade-long freeze, officials confirmed on Tuesday.
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Forthcoming Sindalah Island Resort Will ‘Mark the First Opportunity for the Public to Experience NEOM’ – Report
- May 9,2023
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- SUSTG Team
Saudi Arabia’s forthcoming Sindalah Island project will be the first opportunity for tourists to visit NEOM, according to Antoni Vives, chief urban planning Officer at NEOM, in comments to Al Arabiya English.
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Saudi Arabia’s Red Sea Global Weighs Public Offering as Soon as 2026 – Report
- May 8,2023
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- SUSTG Team
Red Sea Global, the company behind a major tourism destination on Saudi Arabia’s Red Sea coast is considering a possible public market offering as soon as 2026, the CEO said in comments reported by Bloomberg.
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Captagon in the Middle East, Messi’s history with Saudi Arabia, and a conversation with Norah Ortiz, owner of Riyadh’s first authentic Mexican restaurant
- May 5,2023
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- SUSTG Team
The 966 Episode 85! The 966 hosts speak with Norah Ortiz, founder of the first authentic Mexican restaurant in Riyadh, Don Reuben’s, which is located in the Diplomatic Quarter. Ortiz tells us her story as an American born in San Diego to Mexican parents and her journey to owning and operating the first authentic Mexican […]
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MENA startups Raised $7 Million in April 2023, a 93 Percent Decline Year-on-Year – WAMDA Report
- May 4,2023
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- SUSTG Team
In April 2023, startups based in the Middle East and North Africa raised roughly $7 million, a drop of 97 per cent compared to March 2023 and a 99 per cent drop compared to April 2022, according to a report in Wamda.
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Asset Management Firm Tiger Global, Visa Invest in UAE Fintech Company Tarabut Gateway for Saudi Expansion – Report
- May 3,2023
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- SUSTG Team
Payments giant Visa Inc. has made its first open banking investment in the Middle East, joining Tiger Global Management in backing UAE-based fintech firm Tarabut Gateway’s latest fundraising which outlines an expansion to Saudi Arabia, according to Bloomberg.
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MUST-READS
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Opinion: Here’s what an uncoordinated US withdrawal from Syria would look like. It’s bad for many partners, but especially Turkey.
Reports have surfaced regarding the possibility of the United States withdrawing from Syria completely. Despite officials rejecting these reports and a recent vote in the US Senate exhibiting reluctance among lawmakers to leave Syria, news of a potential US exit has been closely monitored by regional actors. Turkey is among them. While Ankara may favor a future US withdrawal from Syria, it desires US coordination. An uncoordinated withdrawal by the United States could pose significant risks for Turkey, leaving the country alone against Iran and Russia.
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Saudi tech firm Alat to partner with SoftBank, others
Alat is also partnering with China's Dahua Technology and The Saudi Technology and Security Comprehensive Control Company (Tahakom), it said, and will support them in reducing their emissions and moving towards carbon zero manufacturing. Alat CEO Amit Midha, who was appointed earlier this month, also announced the partnerships at an event in Riyadh. Alat aims to invest $100 billion in the kingdom by 2030, and will manufacture advanced industrials and electronics in more than 30 product categories.
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AlUla’s Wadi AlFann, Valley of the Arts, presents two exhibitions by Saudi artist Manal AlDowayan
The work of Manal AlDowayan, one of Saudi Arabia’s leading contemporary artists, is often focused on cultural metamorphosis, collective narratives and the representation of women, particularly from her home country. AlDowayan, who will represent the Kingdom at this year’s Venice Biennale, is currently the subject of two exhibitions in AlUla as part of the pre-opening program of Wadi AlFann, a major new cultural destination for art, design and performance.
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Parts of Saudi Arabia covered with snow
The Middle East has been experiencing a remarkable weather phenomenon this week, with the United Arab Emirates (UAE) enduring an intense hailstorm, followed by Oman being battered by torrential rains that caused such severe flooding the government declared a national holiday. Adding to this meteorological spectacle, parts of Saudi Arabia have now been covered in a layer of snow, transforming the landscape into a winter wonderland on Thursday, February 15. In Saudi Arabia, the temperature took a significant dive as heavy rains pelted the mountainous regions of Jabal Al Lawz, subsequently giving way to a light snowfall that has captivated both residents and visitors. Snowfall in the desert regions is always a source of fascination, often generating viral videos and widespread awe, yet for the Tabuk region, this wintry blanket is not uncommon. Situated at an elevation of 2,600 meters, the area is known for its almond bushes and regularly attracts tourists eager to experience its cooler climate and unique snowy scenery.
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Saudi FM stresses need for humanitarian efforts in Rafah with Iranian counterpart
Saudi Foreign Minister Prince Faisal bin Farhan stressed the need for humanitarian efforts in Rafah with his Iranian counterpart Amir Abdollahian in a phone call on Friday, Saudi state news agency SPA reported. Israel has said it will mount an offensive to take out Hamas’s “last bastion” in Rafah, where well over 1 million Palestinians have sought sanctuary from its devastating Gaza offensive. Israel has said its army is drawing up a plan to evacuate civilians from Rafah to other parts of the Gaza Strip. But UN aid chief Martin Griffiths said on Thursday it was an “illusion” to think people in Gaza could evacuate to a safe place and warned of the possibility of Palestinians spilling into Egypt if Israel launches a military operation in Rafah.
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Saudi Arabia is poised to establish more smart industrial zones
The first edition of the Global Smart City Forum 2024 concluded in Riyadh on Tuesday with a revelation that Saudi Arabia is poised to create more smart industrial zones. The two-day forum saw several deliberations focusing on the future of smart cities and the challenges facing their infrastructure. The forum stressed the importance of integrating smart energy solutions for a sustainable future. It was revealed in the forum that the smart industrial zones would have great opportunities for the future in the fields of manufacturing and mining.
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U.S. collaborates with allies, partners at Saudi-led Spears of Victory exercise
Ninth Air Force (Air Forces Central)’s KC-135 Stratotanker aircraft and experts across the fields of command and control, security forces, and other critical operations deployed to the Royal Saudi Air Force’s Spears of Victory exercise Feb. 4-15, at King Abdulaziz Air Base. Spears of Victory includes eight countries and is one of the largest multinational exercises hosted by a U.S. partner in the region. The exercise provides opportunities to develop tactical proficiency, improve interoperability, strengthen military relationships and increase flexibility to address existing and emerging threats. The multilateral exercise builds confidence by familiarizing operators with a wide array of aircraft in various contingency scenarios.
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Saudi Commerce Ministry extends online services to help foreign firms set up regional headquarters in KSA
Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking to establish regional headquarters in the country after securing a license from the Ministry of Investment. These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing commercial registers, and reserving commercial names. These electronic services are accessible through the ministry's digital platform at e.mc.gov.sa and the Saudi Business Center's platform at business.sa.
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Saudi Arabian women and collective memories: a discussion with artist Manal AlDowayan
Saudi Arabian artist Manal AlDowayan used to hate the word feminist. “I thought feminism was created for white, Western women, and their language didn’t include me,” she told me recently. Her work spans the range of photography, video, sound, sculpture and participatory practice. It is usually themed around the limitations and pockets of freedom that Saudi women have, as well as interrogating traditions, and collective memories. This has caused the art public to look at her as a feminist artist, and that’s also why her statement is quite surprising. “I think my grandmother was a feminist,” she clarified quickly. “Not through her sexual conduct or the way she dressed. Just by her resilience. She was a strong woman. Her husband died early and she had to raise 10 children alone. All of them became successful in their own right. She was amazing.”
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Saudi Aramco starts trading US crude that helps set Brent oil benchmark
Saudi state oil company Aramco has started trading a U.S. crude oil grade that underpins the global Brent benchmark in a process run by oil-index publisher S&P Global Commodity Insights, the publisher said on Monday. Aramco, the world's largest oil company, has been expanding its trading activity. The company could not immediately be reached for comment on Monday after Saudi business hours. On Monday, Aramco sold a cargo of U.S. WTI Midland crude to Total in the Platts Market on Close process, known as the Platts window, trade sources said. Aramco had last Thursday sold another cargo of the U.S. crude.
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